Oura’s IPO seeks $2.2bn, and 73% of it goes to existing shareholders
Oura spent the first nine months of its financial year buying its own shares back from its investors. On Monday it started selling them to everybody else.
The Finnish smart ring maker launched its initial public offering before the New York open. It is marketing 50 million shares at $40 to $44 each. At the top of that range the deal raises $2.2bn. That values Oura at about $14.1bn, according to Bloomberg, which calculated the figure from the share count in the filing. Oura has applied to list on the Nasdaq Global Select Market under the ticker OURA.
Read the split and the deal changes shape. Of the 50 million shares, Oura is selling 13.5 million. The other 36.5 million belong to existing stockholders. The 30-day over-allotment option of a further 7.5 million shares is also entirely theirs.
Oura keeps a quarter of its own flotation
At the top of...
Copyright of this story solely belongs to thenextweb.com. To see the full text click HERE
